The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1887-05-26
STATISTICS OF THE YEAR.

hands of the Treasurer, and no assessment
made.
STATISTICS OF THE YEAR.
Gross amount of property in
sured, .........~.-... ... .$42,o9o w
Net increase of liabilities. 2o,5S4 w
hmoun+ of uranium receipts. ga 81
Increase of shares. ....5I
No. of new members adnlit-
ted. ............. .oZ
No. of tickets returned for
non-pa payment Of dues and
which worked forfeiture
of membership. .95
Decrease of liabilities on account
of deaths, removals, sales.
and explosions for nOn-pay-
ment... SSS, 05o w
Decrease of liabilities in excess
OF increase 0,Gko oo
Total gross valuation OF insured
property. .............. ST ,6Sl Az Nv
Total amt of net liabilities, 81, $780, S5 w
Total No of shares of stock, 22,4f9
Total No. of shareholders. -. oo4
EXPENSES.
Presidents allowance. ....... $500 w
Secretary s salary. .........: $500. 10 w
Board of Directors for services.... "a 70
Printing, including postal cards,
tickets. &c. Observation-Disclosures. Oo 90
Total expenses. 1887 GO
DEATHS.
The following is a list Of the sharehold-
ers who died during the year: 5. A. Hous-
hour. Mrs. Christian Wright, w. II. Shi-
rev. Joseph b. Bush. Isaac Baker, Mary
| S. Ruebush. Lewis Whitmore, b. f.
| Pierce. Respectfully submitted,
JNo. TOWBERMAN, President.
| A committee consisting of Messrs. j.
W. Chruchman. S. A. East and P. N.
Powell, was appointed to examine the
| Presidents report, and after retirement
| returned the same with it's approval, and
| the report was adopted.
ELECTION OF OFFICERS.
| The election of officers being in order,
Mr.. G.. w. Koiner nominated Mr.. John
1 Y0wberman for reelection to the Presl-
dency. Mr.. Towberman asked to be eX.
cused from further service in that position.
stating that a discharge of the duties OF
the office required more time than he felt
able to give. He thought the Association
could choose better man, and hoped the
members would do so.
Mr.. Sproul- When we find better man
we will elect him. Until that time we
prefer you.
The vote was than taken and Mr.. Towber-
man unanimously reelected, as were also
Mr.. r. N. Page, Secretary, and Mr.. John
Firebaugh, Treasurer. The old Board of
Directors was also reelected with one ex-
ception, Mr.. A. II. McCue being chosen in
place of Mr.. w. A. Hanger. Mr.. Church.
man, who proposed the change, stated that
his reason for so doing was that tho popu-
lous section about Fishersville had no rep
resentative upon the Board. The Direc-
tory consists of the following members -
| Messrs. Samuel CARRIER. P. N. Powell, J..
J. Larew, Daniel Miller, Jacob Koiner, A.
II. McCue, d. F. Hoover and III. 3. Seig.
Col. East said that there had been net
decrease in the number of shares in the
Company, and that an effort should be
made to stop this depletion and make it
an increase. He thought the advantages
Of the Company-the low rate OF insurance
&c.-should be presented to the people by
active, intelligent agents.
Secretary Page stated that there had
been very few voluntary Withdrawals.
Mr.. Daniel Miller stated that complaint
had been made of the too high valuation
of property. The Association had been in
existence for over fifteen years, and much
of the property insured had necessarially
deprecated in value. Some. it is true,
had been enhanced by improvements, but
there were cases which should be looked
after. He was unwilling to put the Asso-
citation to the expense of having all the
property ragalued. To obviate the neces-
sity for this be proposed that shareholders
who knew of properties rated too high
should report the fact to the Director OF
the district in which the property was sit
uated, and the Director should then ex-
anime into the matter and report to thf
Board.
Col. East thought that valuations could
not be arbitrarily decreased, but that they
could be with the consent of the owner
He favored the plan suggested by M. Nil.
Ter, as the most effective and economical
Messrs. John T0wberman, Geo. Harms
berger, J. w. Churchman. A. II. Towber
, man and r. N. Page also approved Mr.
, Miler's plan. Without any definite action
in the matter. the meeting adjourned.